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India to limit sugar exports in risk to global food prices: Report

India plans to restrict sugar exports for the first time in six years to prevent a surge in domestic prices, potentially capping this season's exports at 10 million tonnes

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India is the world's biggest sugar producer and the second biggest exporter behind Brazil

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India is set to restrict sugar exports as a precautionary measure to safeguard its own food supplies, another act of protectionism after banning wheat sales just over a week ago.

The government is planning to cap sugar exports at 10 million tonnes for the marketing year that runs through September, according to a person familiar with the matter. The aim is to ensure there are adequate stockpiles before the next sugar season starts in October, the person said, asking not to be identified as the information is private.

The move may be announced in the coming days, the person said.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: May 24 2022 | 2:37 PM IST

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